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Hapag-Lloyd scraps further LNG retrofitting of vessels: More expensive than expected

Retrofitting vessels to sail on LNG turned out to be more costly than expected for Hapag-Lloyd, which has shelved its plans for more retrofits. The outlook for LNG in the shipping industry has changed, says CEO Rolf Habben Jansen.

"The conversion turned out to be significantly more expensive than we had originally hoped," said Hapag-Lloyd CEO Rolf Habben Jansen on the retrofitting of vessels to sail on LNG. | Photo: Christian Charisius/AP/Ritzau Scanpix

German container line Hapag-Lloyd, which has made substantial investments in LNG-fueled container vessels, has shelved its plans to retrofit existing vessels for liquefied natural gas (LNG) use.

The retrofitting of Hapag-Lloyd's fleet for LNG has proved to be significantly more costly than expected, said CEO Rolf Habben Jansen at a press briefing Thursday.

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